VICTORIA, BRITISH COLUMBIA, CANADA (December 6, 2010) - Carmanah Technologies Corp. (TSX: CMH) has been awarded four contracts with a combined value in excess of $5 million (CAD) by Northland Power Inc. to design, supply and install two 500 kW, a 250 kW and a 10 kW solar photovoltaic (PV) rooftop system for a national retailer and distributor. Northland Power, one of Canada's largest independent power producers, selected Carmanah as their engineering, procurement and construction (EPC) contractor based on the Canadian company's history of successful turn-key solar PV grid-tie installations.
"When Northland Power approached us last year about the prospect of partnering with them for a series of rooftop solar projects, we were thrilled." Comments Ted Lattimore, CEO, Carmanah. "Northland has a powerful reputation in the Canadian alternative energy industry. Both companies benefit from the advantage of experience and scale in the Canadian grid-tie market."
Since 1989 Northland has been developing and operating renewable energy generation projects predominantly in Ontario, Quebec and Saskatchewan. Headquartered in Toronto, the company's facilities have an installed capacity of over 870 megawatts. Also headquartered in Toronto, Ontario, Carmanah's Grid-Tie division has designed and constructed more than 50 rooftop solar PV installations to date, making Carmanah Canada's most experienced solar EPC contractor in the commercial rooftop market. "We recognize Carmanah's experience and reputation in the design and installation of rooftop PV systems, and we are pleased to partner with Carmanah on these projects," said John Brace, CEO for Northland Power.
The Ontario Power Authority (OPA) Feed-In Tariff or 'FIT' program allows most owners of an electrical service connection, including residents, businesses and government to install a renewable energy generating facility on their land or property for the purposes of selling the electricity to the OPA through their local distribution company. While the program offers 'a reasonable return on investment' for the owner of the generating facility the real winners are the residents of Ontario. One of the focal points of the program and its parent the Green Energy Act is to stimulate job creation by mandating provincial content in each of the primary project attributes including manufacturing of renewable energy technologies, construction labour and consulting services.
Lattimore says that the Company's established credibility in the Canadian solar grid-tie market has marked Carmanah as a prime contender for Ontario FIT project inclusion, "The new OPA FIT program presents a great opportunity for renewable energy companies. Carmanah's long-standing history of successful solar installations across Canada and full-service design-build capabilities position us well to support FIT projects of any scale."
About Northland Power
Northland is a Canadian income trust that has ownership or economic interests in 10 power projects totaling over 1,100 MW (net 872 MW). Northland's assets comprise natural-gas-fired plants which efficiently and cleanly produce electricity and steam as well as facilities generating renewable energy from wind and biomass. Sales are made almost entirely under long-term contracts with a current weighted average duration of 13 years. Northland's plants are located in Canada, the United States and Germany. In addition, Northland has the 86 MW Spy Hill project, 260 MW North Battleford project and 100 MW Mont Louis wind farm in construction, and 216 MW of wind, solar and run-of-river hydro projects awarded under the Ontario Power Authority's feed-in-tariff program in advanced stages of development. Northland also has a diverse development portfolio of high-quality 'Clean and Green' energy projects, including wind, solar, natural gas, and hydro assets that supports its strategy of sustainable growth primarily through internally developed opportunities.
About Carmanah Technologies Corporation
Carmanah Technologies Corporation is a global provider of renewable and energy-efficient technologies. From its office in Toronto, Ontario, the company's Grid-Tie division oversees the design, supply, and installation of solar photovoltaic grid-tied systems for commercial, industrial and institutional applications. As one of the most trusted names in solar technology, Carmanah has installed more rooftop commercial scale grid-tie solar power systems than any other integrator or EPC contractor in Canada, including the City of Toronto Police Services building, the Toronto Parking Authority, the David Suzuki Public School, and the Jean Canfield Government Building in Prince Edward Island - named Canada's 2008 Solar Project of the Year by the Canadian Solar Industries Association (CanSIA). Carmanah is a publicly traded company, with common shares listed on the Toronto Stock Exchange under the symbol "CMH". For more information, visit www.carmanah.com.
Carmanah Technologies Corporation
Roland Sartorius, Chief Financial Officer
For further information:
Investor Relations: Roland Sartorius, CFO
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects," "plans," "estimates," "intends," "believes," "could," "might," "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in Carmanah's Annual Report for the fiscal year ended December 31, 2009, as filed on SEDAR at www.sedar.com. The risk factors identified in Carmanah's Annual Report are not intended to represent a complete list of factors that could affect Carmanah. Accordingly, readers should not place undue reliance on forward-looking statements. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.